Coming up: Kansas City Royals may be going to the World Series! Dr. Nancy Snyderman thinks ebola quarantine protocols are beneath her.
The Dow simply takes a nosedive. Crude oil tanks as well.
All that and more on The Live Show with Jason Stapleton.
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Dr. Nancy Snyderman spotted at New Jersey restaurant during Ebola quarantine, draws health department crackdownhttp://www.nydailynews.com/news/national/dr-nancy-snyderman-spotted-n-cafe-ebola-quarantine-report-article-1.1972199
The NBC News Chief Medical Editor Nancy Snyderman goes to Liberia to report on the happenings there on ebola and she's dressed up in the full suit and everything, dragging her cameraman all around there. She comes back and one of her cameramen tests positive for ebola. Once the cameraman came down with ebola, they go on a mandatory quarantine to prevent spreading it around.
The story is that Nancy Snyderman decides that she doesn't have to obey the rules. They don't apply to her and that the mandatory quarantine is just too taxing on her. And that she wants some soup.
So she and another member of her crew who are suppose to be in a quarantine end up hoping into a car and driving out to their favorite restaurant to pick up a bowl of soup. She gets discovered and it turns out she has violated her quarantine in order to get soup.
Don't you think a doctor would know better and that Dr. Nancy Snyderman could get somebody else to get her some soup?
This is borderline criminal. It's like having sex with people knowing that you have HIV/AIDS. She's a medical doctor, knowingly putting people at risk, she knows the risks. And to go out and purposely put herself out there for a bowl of soup, I think there is a strong case for a criminal charge here for gross negligence.
Ebola could hit 10,000 cases per week in Africa; U.S. steps up responsehttp://www.usatoday.com/story/news/nation/2014/10/14/ebola-print-main-15/17267617/
The scare, the pandemic threat continues.
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Stocks nosedive as Wall Street briefly touches 8-month lowshttp://www.usatoday.com/story/money/markets/2014/10/15/stocks-wednesday/17292363/
Stocks dropped sharply Wednesday as investors grappled with yet another day of wide market swings and intensified angst over the softening global economy, slowing corporate earnings growth and the spread of the Ebola crisis.
Wall Street's early plunge briefly erased the broad market's major indicators for the year. By 12:30 ET., the Dow, down 370 points shortly after opening, was off 302 points, or about 1.8%, to 16,019. The Nasdaq was down 1.6% to 4,161 after a 2% early slide that briefly put the tech-laden composite index in 10% correction territory. The Standard & Poors 500 - off more than 2% in early trading - was down 1.9% to 1,842, near its low for 2014. Behind the carnage: Weaker-than-expected economic data in the U.S., fresh Ebola fears and continued concerns over a growth slowdown in Europe and Asia unnerved investors.
There is a risk of a slowing economy but I think this has to do more with the ebola deal than anything else, which I believe is an irrational fear then I ought to be buying people who are selling that irrational fear.
Crude oil tanks again, drowning oil producer stockshttp://americasmarkets.usatoday.com/2014/10/14/crude-oil-tanks-again-drowning-oil-producer-stocks/
Benchmark West Texas sank 4% to $82.32 a barrel – a 28-month low – while Brent Intermediate lost 3.4% to $85.12, a fresh four-year low. The slide came after the International Energy Agency cut its outlook for oil demand growth by more than 20% while reporting that September oil production had jumped.
“It’s really a perfect storm or negativity,” says Nasdaq energy analyst Tamar Essner. “There’s a lot of data that’s really bearish – the strengthening dollar and the sense that Saudi Arabia is not going to cut production to support prices. It seems like the market is trending lower from here. It doesn’t seem like were bottoming.”
I have a teachable moment about crude oil and I would like to explain the cause and effect. A good economist will tell you there are good choices and bad choices in political decisions. But in terms of a free market, there are only choices, there not good choices and bad choices. For example: let's take crude oil for a moment. At close to $100 a barrel, massive amounts of people making big bucks and also investing massive amounts of money into new technology. Higher oil prices allow these companies to go out and extract oil at a higher price.
A theory of what's happening right now is we're in a situation where there is a lot of drilling going on here in the United States on private land. And that's causing us to purchase less and less Middle Eastern oil. So, now you have the OPEC nations looking at this saying 'we're going to continue to drive prices lower. We're not going to slow down production, we're not going to stop what we're doing, we recognize there is an abundance of oil in the market and we're just going to keep pumping in order to drive prices down.'
Now, why would they do that?
The theory is, by doing that, once oil gets below about $75 to $80 a barrel, it's no longer profitable to drill using some of the new technology that we have here in the United States. We need oil prices above that level to do so. In order to maintain the monopoly that they have, OPEC needs to drive prices lower. See how competition works?
Prices get really high and then what happens? We get more people flooded into the market because it becomes profitable and we begin to get an abundance of oil in the market. Now, if you want to maintain your monopoly in that free market economy, what are you going to have to do? Well, you're going to have to drive your prices down. You're going to have to continue to produce more and more. You're going to have to sell it at a cheaper price in order to maintain that stranglehold.
That is not a bad thing. It does nothing but help the consumer. You, the everyday man, benefit from monopolies in a free market because if there is a monopoly that exists in the free market, it's because they're selling something at absolutely the cheapest price possible. No one else can produce the level of quality products and quality services at that price. If they could, they would beat them. And they would be competing.
So, in a truly free market, any monopoly that does exist is a net benefit to the consumer.
Basic Economics: A Common Sense Guide to the Economy by Thomas Sowellhttp://www.amazon.com/Basic-Economics-Common-Sense-Economy/dp/0465002609
Basic Economics is a citizen’s guide to economics-for those who want to understand how the economy works but have no interest in jargon or equations. Sowell reveals the general principles behind any kind of economy-capitalist, socialist, feudal, and so on. In readable language, he shows how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim. With clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions.
One of the very best books you can read if you're interested at understanding this concept of applied economics. This book is about how economic decisions affect people in the real world by using real world examples. It's a phenomenally good book.
The best book on economics I've ever read because it drives home 'what happens when you apply rent control?' 'what happens when you apply minimums or maximums on what people can sell products for?' All of these do gooder things that the government spends time doing under the guise of protecting the people. Every interference that they have on the free market, into your life, into how you buy or sell, how you promote, how you produce your products, ultimately has a negative impact on the economy.
Pa. boy, 10, to be tried as adult in death of 90-year-old womanhttp://triblive.com/state/pennsylvania/6964345-74/kurilla-woman-virbitsky#axzz3GAJaY2xl
A 10-year-old boy apparently angry that a 90-year-old woman yelled at him held a cane against her throat and repeatedly punched her, killing her in her bed, prosecutors said.
The boy, identified as Tristen Kurilla of Damascus Township by the Wayne Independent newspaper, was being held without bail Tuesday, charged as an adult with criminal homicide in the death of Helen Novak, a woman who was being cared for by his grandfather, Anthony Virbitsky.
The prosecutor said the crime of criminal homicide is excluded from juvenile law, requiring that Kurilla be charged as an adult.“The family is obviously an emotional wreck,” Brown said.
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